Greece unveils €300M package of four economic relief measures

“From the very outset of the conflict in Iran, I stated that the government would take initiatives to create a ‘buffer’ against the consequences of this new major crisis. We acted immediately in the geopolitical sphere, protecting Cyprus, regional stability, and energy security.

At the same time, however, we must support households and businesses against global economic instability—particularly in the energy sector, which affects production costs, consumer prices, and the daily lives of citizens,” emphasized Prime Minister Kyriakos Mitsotakis.

He added: “As you know, Greece is already taking a leading role in shaping a unified European response. Until then, however, the government is determined to act unilaterally at the national level, always within the limits of our fiscal capabilities.

Today, I am announcing a package of four targeted measures that will take effect in April and May. The total value of the program is approximately €300 million, and its benefits will reach nearly the entire population.”

Specifically, the Prime Minister outlined:

1. Diesel Subsidy: To mitigate the negative impact of rising global oil prices on supply chains, goods distribution, and agricultural production, the state will subsidize diesel fuel at the distribution level by €0.16 per liter. This translates into a final consumer and professional benefit of €0.20 per liter, including VAT. The aim is to prevent increased production costs from being passed on to consumer prices.
2. Digital Fuel Card: To help households cope with rising petrol prices, a Digital Fuel Card will be provided, usable at fuel stations, public transport, and taxis. The average benefit is estimated at €0.36 per liter, translating to approximately €50 per two months for mainland households and €60 for island households, based on a monthly consumption of 70 liters. The eligibility criteria have been broadened to cover roughly three out of four vehicle owners.
3. Support for Farmers: To ease the impact of surging fertilizer costs, the state will subsidize 15% of the value of farmers’ purchase invoices.
4. Maritime Fuel Compensation: To address the effects of high shipping fuel prices, a special compensation will be granted to ferry operators, linked to mandatory discounts applied to ticket prices. The goal is to maintain ferry fares close to last year’s levels.

Regarding funding, the Prime Minister noted: “The cost of this initiative will be covered not only by public funds but also by sectors with increased profitability and a smaller social footprint. Consequently, taxation on profits from online gambling operators ‘casino-type’ will be adjusted to secure €100 million. This is a fair intervention, which will be explained in detail by the responsible Ministers.”

He further emphasized: “These measures are made possible by the positive trajectory of the economy and prudent fiscal management. They strengthen social ‘buffers’ in turbulent times, without undermining the essence of our efforts or putting at risk what we have achieved. Given the uncertainty over how long this war will last, we are also keeping reserves in case the global economic situation deteriorates significantly.”

In conclusion, the Prime Minister stressed: “Our message is clear: the government stands—and will continue to stand—by every Greek citizen, as it has in every difficult moment. Our country will once again overcome all storms caused by events beyond its borders, relying daily on unity and social cohesion. In uncertain times, the nation needs a steady compass to guide its course.”